The number is just impressive! In Canada, the excise tax imposed on vaping products, which came into effect on October 1, could bring in $2,4 billion over the next five years. Conversely, this could have a strong impact on the prevalence of smoking.
5 DOLLARS TAX FOR 10 ML!
Since October 1, 2022, a federal tax has imposed vaping products. Announced in Minister's Budget 2022 Chrystia Freeland, the tax currently applies to e-liquids and could bring 2,4 billion over the next five years.
For containers of 10 milliliters or more, the tax is $ 5 for the first 10 millilitres, with a surcharge of $ 1 for each additional 10 milliliters.
For 2022-2023, revenue is estimated at $241 million. In five years, i.e. in 2026-2027, revenues will explode to $599 million.
Obviously no one talks about the consequences of this tax on vaping and its impact on the prevalence of smoking. With such a high tax on e-liquids, it is very likely that many vapers will return to the good old cigarette... Once again, the authorities are walking mercilessly on risk reduction.
